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The fund had previously invested in stock markets in China, Taiwan and Hong Kong, and was benchmarked against the MSCI Golden Dragon index.

David Chellew, head of UK wholesale marketing at HSBC, said changes to the Oeic would enhance its appeal to investors in the UK and offer onshore access to one of its more popular foreign-based funds.

He said: “We are one of the biggest emerging market managers in the world and need to reflect that expertise - not just in Luxembourg, but in the UK as well.”

Mr Chellew said IFAs would be able to recommend either fund to investors, depending on the clients’ requirements.

He added: “The main thing for investors is, if they buy the onshore fund, it is the same as the offshore fund.”

HSBC said the performance track record of the HSBC Greater China fund would be lost following its change of mandate and renaming. The fund will, however, remain in the IMA Asia Pacific Ex Japan sector.

Mr Wong has managed the $2bn (£1.4bn) Sicav since 1997 as a growth-orientated fund investing in large, liquid Chinese stocks. The fund was one of a number of HSBC Sicavs to be launched on the Cofunds platform earlier this year.